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- 24 Oct - ST - Morning Newsletter (with survey at top and bottom)
24 Oct - ST - Morning Newsletter (with survey at top and bottom)
4 Active Stocks to Start the Week
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Good Morning!After a stellar week for the three major averages, U.S. stock futures slipped Monday morning.Dow Jones Industrial Average futures slided by 74 points, or 0.2%. Nasdaq 100 futures lost 0.4%, while S&P 500 futures dropped 0.3%.Premarket pressure on Tesla shares followed the announcement that prices on electric vehicles in China would be dropped.Stocks have been volatile last week as earnings season heats up for the third quarter. There was a gain of more than 748 points, or 2.47%, in the Dow on Friday. There was a 2.37% rise in the S&P 500 and a 2.31% rise in the Nasdaq Composite. For the whole week there was a 4.7% increase in the S&P 500 and 4.9% increase in the Dow. As for the Nasdaq, it gained 5.2%.Stocks have had mixed earnings results so far. JPMorgan Chase and Goldman Sachs stock rose over 4% after they reported earnings on Friday. However, Snap fell 28% after reporting disappointing earnings.Apple, Alphabet, Amazon, and Microsoft are among the tech giants that will report earnings in the coming week.
Rare Metal Discovery: Tiny Sub-$0.25 Stock Set to Deliver Gains
Smart investors are blowing away Wall Street's so-called experts on clean energy stocks. And with the green-energy revolution in full-swing, the near-term gains could be absolutely life-changing. The timing is dead-on accurate with this sub-US$0.25 stock securing an ultra-rare clean energy resource on North American soil that China doesn't want us to have.
Today Top Movers
Applied Genetic Technologies Corporation (AGTC) stock soared 63.47% to $0.3925 in the pre-market trading. Syncona disclosed that it will acquire Applied Genetic Technologies Corporation.
Mullen Automotive Inc. (NASDAQ: MULN) shares are trading up 9.01% at $0.41 at the time of writing. The company recently reported the hiring of John Schwegman as its chief commercial officer for Mullen’s line of commercial vehicles.
Myovant Sciences Ltd. (MYOV) grew over 7.78% at $26.45 in pre-market trading today. Sumitovant Biopharma is acquiring the remaining 48% stake in MYOV for $1.7B.
Vaxcyte, Inc. (PCVX) rose about 45.63% at $29.27 in pre-market trading Monday after releasing positive topline results from the Phase 1/2 clinical proof-of-concept study evaluating the safety.
Forbes mag says this strategy "like finding money in the street"
And Reuters magazine calls this type of trading "the new baby boomer hobby." An anonymous trader -- living at the base of the Smoky Mountains -- just released a free report revealing a step-by-step system to generating an extra $5,000 per month in income thanks to this trading strategy. The report is free until Sunday.
Top Upgrades & Downgrades
Raymond James turned bullish on AT&T Inc. (T), upgrading the stock to Strong Buy and assigning a $24 price target, representing potential upside of 40.35% from Friday's close.
Visteon Corporation (VC) has won the favor of JPMorgan's equity research team. The firm upgraded the shares from Underweight to Neutral and moved their price target to $119, suggesting 4.15% additional upside for the stock.
Wolfspeed, Inc. (WOLF) received an upgrade from analysts at JP Morgan, who also set their one-year price target on the stock to $160. They changed their rating on WOLF to Overweight from Neutral in a recently issued research note.
Earlier Monday Wells Fargo reduced its rating on FedEx Corporation (FDX) stock to Equal-Weight from Overweight and assigned the price target to $160.
HSBC analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Chevron Corporation (CVX) has been changed to Hold from Buy and the new price target is set at $177.
Analysts at Barclays downgraded Analog Devices Inc. (ADI)'s stock to Equal-Weight from Overweight Monday.
What the Penny?!
Low-priced, or "penny," stocks offer a great way to jump into the market regardless of the direction of the markets as a whole. And these six stocks are in an excellent position to deliver potential breakthroughs in the months ahead.
Latest Insider Activity
Meta Platforms Inc. (META) Chief Legal Officer Newstead Jennifer announced the sale of shares taking place on Oct 18 at $137.00 for some 342 shares. The total came to more than $46854.0.
American Airlines Group Inc. (AAL) EVP Chief Commercial Officer Raja Vasu sold on Oct 18 a total 1,851 shares at $13.59 on average. The insider’s sale generated proceeds of almost $25,155.
Helbiz Inc. (HLBZ) Chief Executive Officer Palella Salvatore declared the purchase of shares taking place on Oct 13 at $0.25 for some 200,000 shares. The transaction amount was around $50000.0.
Fastenal Company (FAST) Director Nielsen Sarah N bought on Oct 17 a total 500 shares at $44.89 on average. The purchase cost the insider an estimated $22,445.
These 3 Chart Patterns...
Once you're able to recognize and understand these 3 chart patterns… You can then identify high-probability trading opportunities.
Important Earnings
Top US earnings releases scheduled for today include AGNC Investment Corp. (NASDAQ: AGNC). It will announce its Sep 2022 financial results. The company is expected to report earnings of $0.69 per share from revenues of $441.36M in the three-month period.
Analysts expect Range Resources Corporation (NYSE: RRC) to report a net income (adjusted) of $1.39 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Sep 2022 is predicted to come in at $1.04B.
Discover Financial Services (DFS), due to announce earnings after the market closes today, is expected to report earnings of $3.72 per share from revenues of $3.37B recently concluded three-month period.
That's it for today. Thanks for reading. Good luck out there!Best Regards,Stocks Telegraph Team
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